ICICI Prudential AMC buys over 500,000 sq ft of Bengaluru office space for around Rs 626 crore

The Economic Times reports that ICICI Prudential AMC acquired 5.46 lakh sq ft of saleable area in Bengaluru’s Purva Zentech office tower at an enterprise value of around Rs 626 crore. The deal was made through a company owned by a fund it manages and gives ICICI Prudential a 56% stake in the building. The acquired portion has 1.89 lakh sq ft leased, with tenants including Ikea, Laguna and UST.